An Exceptional Investment Opportunity! This property consists of ten total units, eight 3-bedroom, 1.5-bath condos built in 1985 and a two-story attached duplex constructed in 1930, all within the Opportunity Zone. The interiors of all units have recently received fresh paint, and many boast upgraded flooring. Exterior enhancements include compliance with zoning regulations, such as new sidewalks and curbing, illuminated by energy-efficient LED lighting. The driveway has been leveled for added convenience, and a protective fence now shields the previous surface while enhancing curb appeal. This investment is already above a 6% cap rate, with substantial net operating income (NOI) and 100% occupancy over many years. With minimal investment and strategic rental turnover, there's significant potential to increase the NOI. This can substantially elevate the property's overall valuation. Moreover, an exceptional management company is in place to expertly navigate the property's operations, drive revenue, and ensure a hassle-free investment experience. Take advantage of this outstanding opportunity for a high-yield, value-increasing investment.

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Tax Information

Tax Year2023

Building

Year Built1985
Building ConstructionWood Frame
StyleTownhouse
Units10
# of 3+ Bedrooms10
BasementDirt Floor, Partial, Slab, Unfinished
FoundationConcrete, Slab - Concrete

Amenities

PricePerSqFt322.06

Other

Taxes$42,575
Seasonal Y/NNo
Date Listed11/03/2023
View Count2

Basic Information

StatusACT
List Price$3,495,000
Date Price Change11/03/2023
MLS Number4976648
MLS StatusActive

Property

Acreage0.5
Parking Spaces
Lot DescriptionCity Lot, Condo Development, Level, Sidewalks
Square Feet10,852
APX Fin AG Sqft10,852
Road Frontage96
RoadsPublic

Location

TownBurlington
StateVT
Zip05401
CountyChittenden
ZoningRes- Med Den
Flood Zone Y/NUnknown

Exterior

ExteriorVinyl Siding, Wood Siding
RoofShingle, Slate

Utilities

Heat FuelElectric, Gas - Natural
Heat SystemBaseboard, Direct Vent, Electric, Gas Heater
WaterPublic
Water HeaterElectric, Gas - Natural, Owned, Tank
ElectricCircuit Breaker(s)
SewerPublic
UtilitiesCable - Available, Gas - On-Site

Copyright 2023 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated December 10, 2023 11:54 AM EST

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Your Questions & Comments I found a listing on "Berkshire Hathaway HomeServices Stratton Home" which you may be interested in:

31 Hyde StreetBurlington, VT 05401MLS Number 4976648

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